Sky News has learnt that Monument Bank, which now has roughly £5bn in assets, has told existing and potential investors that it is targeting a listing on New York's Nasdaq exchange by the end of 2027, with a secondary listing on a major Middle Eastern or Indian exchange possible the following year.
Monument Bank - named after the famous commemoration to the Great Fire of London in the City - wants to become the bank of choice for approximately 4.8 million professionals, entrepreneurs, property investors and other mass-affluent customers in the UK.
A challenger bank which has amassed a substantial customer base of Britain's wealthiest savers is in talks about raising £200m in private funding before pursuing a US flotation which would raise further questions about the attractiveness of the London market.
In response to an enquiry from Sky News, Ian Rand, the former Barclays executive who is now chief executive of Monument Bank, confirmed that it was aiming to raise up to £200m.
It counts Monument Technology Limited, which recently completed a separate funding round, as a subsidiary, although some of the technology arm's investors are not among the bank's shareholders.
